When your customers come to your site to make a purchase, they think little about the process. They simply want a professional looking site that provides great products and service, and makes the entire process easy from beginning to end.
While your customer only thinks about the final goal, as an online merchant it’s your job to create the best possible flow from beginning to end. In fact, it’s also important to have an easy to use system at your end too, so visit httpss://www.eatelbusiness.com/ to see how your choice of internet service provider can make all the difference as there are many types. These include common types such as cable and fibre optic, right up to more recent forms such as wireless or satellite broadband. In fact, if you’re interested in learning more about exactly how some of these newer types work, you can go here to find out more information.
To gain the most success from your online business, credit card transactions are no longer optional, they are required.
Internet payment gateways allow customers to use their credit cards in real time for immediate results. With an internet payment gateway, when a customer uses their credit card for a purchase from your site, the transaction is processed immediately – the customer knows in real time if the card was accepted or declined.
A closer look at how an internet payment gateway works will help you understand the process.
To complete a transaction, a credit card payment moves through three processes.
Authorization
Authorization is simply the credit card issuer authorizing the payment. This is the step that tells you if the card is accepted or rejected. The process takes only a few seconds at the time of purchase.
Settling
This is the process where the internet payment gateway gathers all of the transactions for the day. The group is then sent to your bank, where you will receive the payments into your account. Once the transactions reach your bank, it usually takes only a day or two before the payments post to your bank account.
Reporting
This is merely the internet payment gateway’s records of your transactions. Having these records provides you with easy access to view your daily credit card transactions.
One of the best features of an internet payment gateway is the ability to have unlimited users access the gateway at any time. In a traditional retail setting, each customer must take turns before swiping their credit cards. With an internet payment gateway, multiple users can process their transactions at once. With an internet payment gateway, you can maximize your profits by providing your customers with the ability to use credit cards in a timely manner.